Today we will discuss about ACCA Paper Accountant in Business
AB (Accountant in Business), which comes under Applied Knowledge, is one of the 3 papers. The other 2 papers are MA Management Accounting and FA Financial Accounting.
So, lets start….
Are you having a business background ?
Are you afraid of solving business problems ?
Don’t worry, i am hereby introducing you with the subject that will help you in getting familiar with all the business models. AB(Accountant in Business)is one solution that will make you learn and understand business. This subject introduces with the knowledge and understanding of the business. Theories of profound authors have been included in this subject to understand with the practical application of various business difficulties. Insightful theories of
and some other great authors.
Internal as well External factors are included to resolve the complex business problems. This subject helps the students to get well versed with the business problems and finding the innovative solutions with the help of various theories, models, and philosophies. AB (Accountant in Business) introduces with the knowledge and understanding of the business models dealing with the practical application of it in the real world.
AB (Accountant in Business)
Chapter 1 – The Business Organization
This chapter introduces students with the concept of business and explains different forms of Business Organization along with their key characteristics. It further defines the concept of sole proprietor, partnership, limited liability partnerships, co-operative, and companies. The size, nature, ownership, activities involved, sources of funding, liability, complexities involved in each of these enterprises have been discussed in this chapter. This chapter thereafter deals with the almost all the sectors in which an enterprise can operate.
For instance :-
ChildFund International is an organization that is working with the goal of helping the most impoverished children of Liberia. Its main aim is to help those children, so the organization will be categorized into Not For Profit Organization.
Reliance Industries working on the goal of earning profits is categorized as a Profit Organization.
AB (Accountant in Business)
Chapter 2 – Business Organization and Structures
Work is allocated in the organization in the manner the organization is structured. So, the organization structure plays the pivotal role in the planning, performance, allocation, and further monitoring of roles and responsibilities.
Different Organization Structure includes:-
Entrepreneurial – An organization that works on the concept of One-Man Entity.
Functional / Departmental Structure – An Organization which outgrows the Entrepreneurial Structure and in which employees of similar tasks are grouped together to undertake a task.
Divisional/ Product Structure – This type of Organization outgrows the Functional Structure and in this the Organization task is split into several divisions. In this structure each division works as a separate Strategic Business Unit.
Geographic Structure – In this Structure the Organization is divided into different Geographical divisions.
Matrix Structure- This Matrix structure requires the dual reporting under two different managers. This principle clearly defeats the principle of Henry Fayol’s Principles of Management’s : Unity of Command.
After understanding the business structures of business organization, this chapter further takes you to the Henry Mintzberg‘s organizational structure. Mintzberg explained that the organization is divided into the 5 building blocks:
- Strategic Apex
- Middle Line
- Operating Core
- Support Staff
Then further one block was added – ideology.
Thereafter, this chapter further introduces the students with Anthony Triangle Model which divides the management into three different levels of planning i.e.
- Strategic Planning
- Tactical Planning
- Operational Planning
As soon as student gets well conversant with the different forms and Structures of an Organization, this Chapter further takes you on to the concept of Marketing, that how an Organization tends to sell the goods and service in the Market. The most important factors in to the concept of Marketing deals with the Identifying the Customer Needs, Supplying the Customer Needs, Efficiency, and Profitability.
Then Marketing Mix is discussed in detail that includes the sum of 4 controllable P’s that a firm blend to produce the desired result from the Product or Service. Marketing mix is the concept in which Right product is sold at the right place with the right price.
4 P’s include: Product, Price, Promotion and Place
Then further 3 P’s were added that include people, processes, and physical evidence, therefore making the marketing mix a blend of 7P’s.
At the end of this chapter the student should be in the position to categories among the different structures of the organizations and therefore further understanding of what all it takes to sell a Product/ Service, therefore coming up with the innovative solutions to the problems of all the P’s.
At the end of this chapter the student should be in the position to categories among the different structures of the organizations and therefore further understanding of what it takes to sell a product/service, and coming up with the innovative solutions to the problems of all the P’s.
London School Of Business & Certified Accountants (LSBCA) is teaching all subjects of ACCA.
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